Vetr Inc. Downgrades Salesforce.com Inc (NYSE:CRM) to Buy

Vetr cut shares of Salesforce.com Inc (NYSE:CRM) from a strong-buy rating to a buy rating in a research report report published on Tuesday, July 11th. They currently have $97.77 price objective on the CRM provider’s stock.

Several other research analysts also recently issued reports on the company. Northland Securities set a $105.00 price objective on Salesforce.com and gave the company a buy rating in a research note on Saturday, June 24th. MKM Partners reissued a buy rating and set a $104.00 target price (up previously from $98.00) on shares of Salesforce.com in a research report on Friday, May 19th. Jefferies Group LLC reissued a hold rating and set a $80.00 target price on shares of Salesforce.com in a research report on Monday, May 22nd. BTIG Research reissued a buy rating and set a $100.00 target price on shares of Salesforce.com in a research report on Monday, May 22nd. Finally, Mizuho reissued a buy rating and set a $100.00 target price (up previously from $95.00) on shares of Salesforce.com in a research report on Friday, May 19th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and forty have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $97.41.

Shares of Salesforce.com (CRM) opened at 90.26 on Tuesday. Salesforce.com has a 1-year low of $66.43 and a 1-year high of $92.13. The stock has a market cap of $64.28 billion, a P/E ratio of 477.57 and a beta of 1.29. The company’s 50-day moving average is $88.60 and its 200 day moving average is $85.06.

Salesforce.com (NYSE:CRM) last issued its earnings results on Thursday, May 18th. The CRM provider reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.02. The firm had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.35 billion. Salesforce.com had a return on equity of 1.80% and a net margin of 1.49%. The business’s quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.24 earnings per share. Equities research analysts anticipate that Salesforce.com will post $1.30 EPS for the current year.

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In related news, insider Keith Block sold 10,000 shares of the company’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $86.80, for a total transaction of $868,000.00. Following the completion of the sale, the insider now owns 10,000 shares in the company, valued at $868,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Susan Wojcicki acquired 1,100 shares of Salesforce.com stock in a transaction that occurred on Monday, June 5th. The shares were purchased at an average price of $90.89 per share, with a total value of $99,979.00. Following the transaction, the director now owns 30,517 shares of the company’s stock, valued at approximately $2,773,690.13. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 1,408,005 shares of company stock worth $126,555,485. Corporate insiders own 6.70% of the company’s stock.

A number of hedge funds have recently modified their holdings of CRM. Appropriate Balance Financial Services Inc. boosted its stake in shares of Salesforce.com by 6.9% in the second quarter. Appropriate Balance Financial Services Inc. now owns 513 shares of the CRM provider’s stock worth $5,928,000 after buying an additional 33 shares during the last quarter. Capital Analysts LLC boosted its stake in shares of Salesforce.com by 14.1% in the second quarter. Capital Analysts LLC now owns 1,266 shares of the CRM provider’s stock worth $110,000 after buying an additional 156 shares during the last quarter. Peddock Capital Advisors LLC boosted its stake in shares of Salesforce.com by 3,000.0% in the second quarter. Peddock Capital Advisors LLC now owns 1,395 shares of the CRM provider’s stock worth $121,000 after buying an additional 1,350 shares during the last quarter. Shine Investment Advisory Services Inc. bought a new stake in shares of Salesforce.com during the second quarter worth approximately $130,000. Finally, First Personal Financial Services boosted its stake in shares of Salesforce.com by 7.5% in the first quarter. First Personal Financial Services now owns 1,611 shares of the CRM provider’s stock worth $133,000 after buying an additional 112 shares during the last quarter. Institutional investors and hedge funds own 85.87% of the company’s stock.

Salesforce.com Company Profile

Salesforce.com, inc. is a provider of enterprise software, delivered through the cloud, with a focus on customer relationship management (CRM). The Company focuses on cloud, mobile, social, Internet of Things (IoT) and artificial intelligence technologies. The Company’s service offerings are configured and integrated with other platforms and enterprise applications.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Salesforce.com (NYSE:CRM)

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